RNS Hotlist: Alkemy, Altona, Bidstack, Bradda, Canadian, CleanTech, East Star, Lexington, Lift, Marula, MetalNRG, Prospex, SEED, Tertiary, Tirupati, Union Jack

Tirupati Graphite (TGR) announced that it has raised £1,500,000 by a private placement of Convertible Loan Notes through its Broker Optiva Securities Ltd as a first tranche of a £3,000,000 raise. The company said it is targeting the production of circa 8% of the global flake graphite market. The flake graphite markets remains on course to grow to above 5 million tons of annual demand by the turn of the decade. At Madagascar it remains on track to build up to 84,000 tons annual capacity over the next couple of years and it is currently on the cusp of reaching 30,000 tons annual capacity installed.

Canadian Overseas Petroleum Limited (COPL), an international oil and gas company, said it has issued 9,995,002 common shares pursuant to a conversion of $2,000,000 principal of 2025 Bonds and 5,895,000 common shares to its financial adviser and brokers in connection with its Convertible Bond financing.

Fresh from a £1.2m raise, Alkemy Capital Investments (ALK) announced that the company will build a Lithium Sulphate plant at Port Hedland, Australia's largest export port located in the Pilbara region of Western Australia, to feed the Tees Valley Lithium Ltd Lithium Hydroxide plant at the Wilton International Chemicals Park, Teesside, UK. The company said that working with leading global metals trader Traxys to source the spodumene feedstock for the Port Hedland LSM plant, Alkemy is now progressing discussions to finalise and secure the optimal site for the Port Hedland LSM plant and the definitive spodumene feedstock agreement to underwrite the development of the plant.

Lexington Gold (LEX), the gold exploration and development company, announced the completion of an updated independent JORC (2012) Mineral Resource Estimate for the Loflin side of the Jones-Keystone-Loflin Project prepared by Pivot Mining Consultants Pty Ltd. The company said it was “very pleased” with the 27% upgrade to its initial maiden JORC resource at Loflin, which forms part of the JKL Project, following the extremely successful 2021/2022 reverese circulation drilling campaign.

Marula Mining (MARU), a mining services investor, said work at the Blesberg Lithium and Tantalum project in South Africa has begun last Tuesday, including a major bulk sampling programme on the lithium and spodumene stockpiles. Recent test work results and figures will be completed and in the third quarter of 2022. The company said Blesberg is widely recognised as one of South Africa’s largest known economically mineralised pegmatite deposits and has historically produced a number of commodities.

Altona (ANR), a mining exploration company, announced that it has completed a significant milestone, where the company has estimated an Exploration Target of up to 56.6 million tonnes at up to 1.65% Total Rare Earth Oxide based on its ongoing exploration work. This estimate is ahead of the publication of a JORC Mineral Resource Estimate, which is on track for Q1 2023.

MetalNRG (MNRG) announced that, in its continuing civil legal proceedings in the English High Court against Brit Energy Holdings LLP, Mr Pierpoalo Rocco and BritNRG Limited, the Company made an application for expedition of the hearing of its application for summary judgment against the LLP and the Joint Venture Company.

Lift Global Ventures (LFT), an enterprise company formed to identify investment and acquisition opportunities within the financial media and related technology industries, announced that it has entered into a share purchase agreement to conditionally acquire the entire issued share capital of Miriad Limited, a financial PR and IR consulting company. The company said the Acquisition will help to achieve the Directors' goal of covering Lift's fixed costs and providing, not just stability during a time of market turmoil, but an ideal platform from which to launch into the next phase of its growth strategy.

Bidstack Group (BIDS), the in-game brand activation platform, announced its unaudited results for the six months ended 30 June 2022. The company said its wider product offering and suite of tools, organic growth and the commencement of its commercial relationship with Azerion has created a 2.5x increase in first half revenue year-on-year to over £2m.  Given its full year revenues for 2021 of £2.6m, this represents a significant acceleration of turnover.  

CleanTech Lithium (CTL), an exploration and development company, announced an operations update with brine assays received from the first drill hole at the Francisco Basin project. A maiden JORC Inferred resource estimate for the project is expected to be reported in the near-term.

East Star Resources (EST), the Kazakhstan-focused gold, rare earths and copper explorer, announced the award of a new exploration licence comprising 59 blocks at the Talairyk Heavy Rare Earth Elements Project in the Kostanay region of Kazakhstan, into which the Company is farming in for up to 90%. The company said it will immediately begin the application process to commence field work so the exploration programme can align with that of the Talairyk deposit, where it aims to be drilling in H1 next year.

Prospex Energy (PXEN), the AIM quoted investment company, announced the successful  installation of a 41.5 kW array of 83 solar panels on the roof of the El Romeral power plant, known as Project Apollo, was completed on 4 August 2022.  The company holds a 49.9% working interest in El Romeral through its interest in Tarba Energía S.L.

Bradda Head Lithium (BHL), the North America-focused lithium development group, released initial results from its recent 3D remote mapping exercise. The exercise was undertaken by SRK Consulting (UK) Limited, at the company's San Domingo lithium pegmatite project in Arizona. Bradda Head have increased their landholding by adding approximately 75% or 10km2 of claims and leases around San Domingo, a historic lithium mining district in Arizona.

Union Jack Oil (UJO) a UK focused onshore hydrocarbon company, said that the Operator of PEDL241, Egdon Resources U.K. Limited, has submitted an appeal on behalf of the Joint Venture partnership, against the refusal of an extension of time to the existing planning permission by Lincolnshire County Council for the drilling and testing of a conventional exploration well at the North Kelsey site. Union Jack holds a 50% economic interest in PEDL241.

SEED Innovations (SEED), the AIM quoted investment company announced that it has invested a further £50,000 in South West Brands Limited, a London-based company focused on wellness and beauty brands of the future. The Investment is by way of a three year, 8% Convertible Loan Note as part of a funding round by SWB to raise up to a maximum of £1,000,000, of which £570,000 has been secured. In addition, SEED have agreed to convert £50,000 of the 12 month, 8% CLN subscribed for in July 2021 into this three year, 8% CLN.

Tertiary Minerals (TYM) announced that it has accepted a binding offer from Aurion Resources Ltd for the purchase of Tertiary's royalty interests in the Kaaresselkä and Kiekerömaa Gold Projects in Finland. The consideration payable on closing of a formal sale and purchase agreement is CAD$200,000, to be paid in cash, and the issue to Tertiary of 83,333 common shares in Aurion Resources Ltd.